The Thanksgiving holiday week started off with mixed results for media companies on Wall Street, as Monday’s trading saw the Dow Jones Industrial Average improve 72.09, to 23,430.33, and the Nasdaq composite index gain 7.92, to 6,790.71.
Key radio companies enjoyed healthy gains, including Entercom — the star of the show since its Friday closing of its merger with CBS Radio. Monday’s trading saw shares gain another 4.6%, finishing at $11.93.
Meanwhile, Beasley Broadcast Group shares improved 5%, to $10.60, and Entravision gained 4.8% on the day, ending at $6.50.
Seeing downward movement on Monday was Salem Media Group, which landed at $4.75 as the stock saw a 3.1% decline in value.
Cumulus Media shares ended the day at 29 cents per share.